Note that Israel is selling USTs to support its currency, not buying USTs in a flight for safety.
Foreigners in total own $7.6 trillion in USTs, against $13T in offshore USD-denominated debt.
The convexity of net effective UST supplies as USD rises remains very underestimated. https://t.co/EZbd7EjGYK
— Luke Gromen (@LukeGromen) October 9, 2023
The Israeli Shekel has declined to its lowest value against the U.S. Dollar since January 2016 pic.twitter.com/ToffK8eswh
— Barchart (@Barchart) October 10, 2023
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